Safaricom Launches Unit Trust Fund

Staff Writer | Dec 4, 2019

Safaricom has made its entry into the fund management space, with a new unit trust fund product called Mali, which will allow users to invest and earn interest of up to 10% annually. M-Pesa users who are eligible will be able to sign up for the service by dialing *230# filling the requisite information and crediting the new account from M-Pesa.

Mali will join the growing list of digitized investment fund managers which currently includes Cytonn, CIC, Britam and Sanlam, among others.

Deposits and withdrawals on Mali will be instant and free of charge, and customers will be able to make top ups of up to Kshs 70,000

Customers will also be able to top up their investment using the USSD or via the Paybill on the Safaricom Sim Toolkit. The service will be open to anyone who has had a registered M-Pesa line for longer than three months.

Kenya Listed Among World’s Top 10 Countries in Cryptocurrency Adoption

Kenya has been listed among the top 10 countries in the world that are leading in cryptocurrency adoption. Kenya has been listed among two other African countries in the top 10. The report...